CIO Matt Whineray Promoted to CEO at New Zealand Fund

New chief had been acting in the role since predecessor left for central bank gig.

Matt Whineray

After acting in the role for three months, Matt Whineray is officially the chief executive of the New Zealand Superannuation Fund.

Whineray, the sovereign wealth fund’s former chief investment officer, took on the responsibilities following the March departure of then-CEO Adrian Orr. The fund’s board of the guardians conducted a global search, determining Whineray “the stand out candidate.” It called Whineray’s overall performance “instrumental” to the fund’s success. He will make the full transition on July 1.

Orr left his post for a job at New Zealand’s central bank.

Whineray has been with the fund for 10 years and was ranked 9th on CIO’s 2017 Power 100 list. He will be paid a base salary of $600,000, and could make about $1 million after performance bonuses, according to New Zealand news outlet Stuff.

The New Zealand Superannuation Fund has $28 billion in assets under management.